EU leaders agree to cut dependence on China
European Union leaders vowed to reduce their economic dependence on China as they concluded a two-day summit in Brussels on Friday.
The bloc’s leaders pledged to pursue a mutually beneficial economic relationship with Beijing that “would continue to reduce critical dependencies and vulnerabilities,” they said in a joint statement.
“We must avoid strategic dependencies. It will take a few years for companies to diversify, but it will remain an economic cooperation that is also necessary in terms of climate policy and food security,” said German Chancellor Olaf Scholz.
He described the process as “reducing risk”, emphasizing that it is primarily a long-term task for companies, not countries.
“It’s about not putting all your eggs in one basket”, he explained, adding that companies have already started the process.
EU bloc members also urged China to put pressure on Russia to end the conflict in Ukraine.
Source: DW
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